At the time of which I write, it was impossible to over-estimate the influence of Malcomson Brothers in the commercial steamship world. We have seen how they were consulted by the directors of the P. and O., and by the promoters of the Inman line. In addition to their coasting fleets they had steamers in the Eastern trade, one of which—the UNA—was one of the first steamers to pass through the Suez Canal. They were also the pioneers of the Liverpool and River Plate trade, and were, I believe, the predecessors of Lamport and Holt. Amongst the large fleet of steamers built for the Waterford Steamship Company at their own shipbuilding and engineering works was a screw steamer, the WILLIAM PENN. This steamer was sold by the Waterford Steamship Company, and her new owners, having lengthened her and given her a fourth mast, renamed her the EUROPEAN. As the EUROPEAN she ran for a number of years in H. N. Hughes and Nephew’s line between Liverpool and Bombay. She afterwards was transferred to, or chartered by, Geo. Warren and Co., and while in their Boston and Liverpool service, in the early seventies, she had the proud distinction of being the first steamer to bring to Liverpool an importation of American live cattle, consigned to Geo. Roddick and Co., Chapel Walks. Since the withdrawal of the Malcomsons from the active control of the company, the management of the Waterford Steamship Company has been vested in Mr. C. Morley, under whose able management the steamers have been maintained in a state of thorough efficiency and up-to-dateness. The fleet of the company at the present date consists of the following powerful steamers, which make their passages to and from Liverpool and Waterford with unfailing regularity in about 18 hours, summer and winter, viz.:—LARA, COMERAGH, REGINALD, DUNBRODY and MENAPIA. The DUNBRODY has a complete installation of electric light, including the holds, and her lower holds for the entire length form a refrigerator. A further and larger addition, the CLODAGH, now building, will shortly be added to the fleet, embracing all the above improvements, with an increased speed, and increased first-class passenger accommodation. The Waterford Steamship Company were amongst the first steamship owners to discard the bowsprit and figure-head, and to adopt the straight stem. They were also amongst the first owners to build steamers with saloons amidships, and it is their proud boast that in the Liverpool and Waterford service, extending over sixty years, they never lost a ship or a human life. [Illustration: The late T. H. ISMAY, Esq.] CHAPTER XX. WHITE STAR LINE.